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What is the amount of depreciation for the first full year

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Reference no: EM133093685

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Q1. A used machine with a purchase price of $37,997, requiring an overhaul costing $8,891, installation costs of $5,157, and special acquisition fees of $33,007, would have a cost basis of

a. $85,052

b. $132,107

c. $46,888

d. $37,997

Q2. Equipment with a cost of $141,071 has an estimated residual value of $9,230 and an estimated life of 6 years or 14,146 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,226 hours?

a. $6.00

b. $40.87

c. $30,066.38

d. $21,973.50

Reference no: EM133093685

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